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APPENDIX 
preceding decennial census of the United States, shall have 
as a director or other officer or employee any private 
banker or any director or other officer or employee of 
any other bank, banking association, or trust company 
located in the same place: Provided, That nothing in this 
section shall apply to mutual savings banks not having a 
capital stock represented by shares, to joint-stock land 
banks organized under the provisions of the Federal 
Farm Loan Act, or to other banking institutions which do 
no commercial banking business: Provided further, That 
a director or other officer or employee of such bank, bank- 
ing association, or trust company may bea director or other 
nfficer or employee of not more than one other bank or 
trust company organized under the laws of the United 
States or any State where the entire capital stock of one is 
owned by stockholders in the other: And provided further. 
That nothing contained in this section shall forbid a di- 
rector of class A of a Federal reserve bank, as defined in the 
Federal Reserve Act, from being an officer or director, or 
both an officer and director, in one member bank: And 
provided further, That nothing in this Act shall prohibit 
any private banker from being an officer, director, or em- 
ployee of not more than two banks, banking associations, 
or trust companies, or prohibit any officer, director, or em- 
ployee of any bank, banking association, or trust com- 
pany, or any class A director of a Federal reserve bank. 
from being an officer, director, or employee of not more 
than two other banks, banking associations, or trust 
companies, whether organized under the laws of the 
United States or any State, if in any such case there is in 
[orce a permit therefor issued by the Federal Reserve 
Board; and the Federal Reserve Board is authorized to 
issue such permit if in its judgment it is not incompatible 
with the public interest, and to revoke any such permit 
whenever it finds, after reasonable notice and oppor- 
tunity to be heard, that the public interest requires its 
revocation. 
The consent of the Federal Reserve Board may be 
procured before the person applying therefor has been 
elected as a class A director of a Federal reserve bank 
or as a director of any member bank, 
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Be 
When any person elected or chosen as a director or 
officer or selected as an employee of any bank or other